Pepper (UK) Awarded Contract to Service £500 Million Commercial Real Estate Portfolio

Posted 26-05-2016

Pepper UK is delighted to announce the recent boarding of another UK commercial real estate ("CRE") portfolio comprising hundreds of assets with aggregate outstanding balances in excess of £500m, having been awarded the Primary and Special Servicing mandate by a syndicate of investors.

This follows Pepper’s support in the underwriting phase of the transaction. The portfolio comprises mostly non-performing loans with the portfolio secured on both residential and commercial assets in all parts of the United Kingdom.

This portfolio represents Pepper UK’s third major UK CRE servicing contract since the creation of its Commercial Real Estate division in the second half of 2014.

The portfolio is to be led by Mark Caplan, MD of CRE, who commented "I am delighted to be asked to lead this transaction both for Pepper and the investors. This is an opportunity for us to act for new clients and to utilise the skills that we have already successfully brought to bare on our first two portfolios".

Richard Klemmer, CEO of Pepper UK, said "We’re delighted on this transaction to be partnering with more of the leading investor names in the NPL debt acquisition sector. This is another step forward in our journey to becoming the leading servicer of small and medium sized loans secured on commercial real estate in the UK. This new transaction means we have been mandated to manage over £2bn of loans in less than 18 months and represents a further endorsement of our proactive approach to loan management and in optimising returns for our clients".

Pepper UK, via its CRE loan servicing arm, Engage Commercial, is one of UK’s leading providers in loan servicing, debt advisory and asset management of third-party loans portfolios, secured against small and medium sized CRE.